CTS
ActiveSummary
CTS has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.2m and a net result of €1.6m. Equity is growing by ~101.1% per year across the filed fiscal years. Its solvency ranks better than 77% of 5998 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability95▲+1
Solvency92▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €400,000 at 30 days acceptable
Liquidity ample (current ratio 2.8 against 3.31 in 2023; short-term debt: 27.1% and cash: 3.5% of total assets), and 33.2% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
66.8%
Return on assets
20.3%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 20-05-2025, 72 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
72 d early
2023
49 d early
2022
95 d early
2021
73 d early
2020
95 d early
2019
77 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 77 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€15.0m
EBIT margin
14.3%
Net result
€1.6m▲ 31.8%
2023 · €1.2m
Working capital
€3.8m▲ 42.6%
2023 · €2.7m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover€15.0m
Operating result€794,873▲ 591%€1.6m▲ 98.8%€593,790▼ 62.4%€1.6m▲ 178%€2.1m▲ 29.9%
Net result€541,662above the sector's middle half▲ 604%€1.3mabove the sector's middle half▲ 133%€465,718above the sector's middle half▼ 63.2%€1.2mabove the sector's middle half▲ 159%€1.6mabove the sector's middle half▲ 31.8%
EBIT margin14.3%
Equity€697,591within the sector's middle half▲ 347%€2.0mabove the sector's middle half▲ 181%€2.4mabove the sector's middle half▲ 23.7%€3.6mabove the sector's middle half▲ 49.6%€5.2mabove the sector's middle half▲ 43.7%
Total assets€2.8mabove the sector's middle half▲ 15.7%€4.9mabove the sector's middle half▲ 76.7%€5.5mabove the sector's middle half▲ 12.4%€6.0mabove the sector's middle half▲ 8.1%€7.8mwithin the sector's middle half▲ 31.3%
Debt€2.1m▼ 7.3%€2.9m▲ 41.5%€3.1m▲ 4.9%€2.3m▼ 24.7%€2.6m▲ 12.0%
Working capital€265,432€1.6m▲ 502%€1.6m▼ 0.6%€2.7m▲ 68.3%€3.8m▲ 42.6%
Solvency25.2%within the sector's middle half▲ 18.6pp40.0%within the sector's middle half▲ 14.9pp44.1%within the sector's middle half▲ 4.0pp61.0%within the sector's middle half▲ 16.9pp66.8%above the sector's middle half▲ 5.7pp
Staff (FTE)5within the sector's middle half▲ 117%7.7within the sector's middle half▲ 54.0%7.7within the sector's middle half=6.7within the sector's middle half▼ 13.0%8.6within the sector's middle half▲ 28.4%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 30% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €7.8m
Fixed assets
€1.9m ▼ 11.1%
Current assets
€5.9m ▲ 54.9%
Equity and liabilities €7.8m
Equity
€5.2m ▲ 43.7%
Debt
€2.6m ▲ 12.0%
Debt's share of the balance-sheet total falls from 39.0% to 33.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€2.9m▲
2023 · €2.3m
Cash flow
€2.3m▲
2023 · €1.8m
Current ratio
2.80▼
2023 · 3.31
Quick ratio
1.42▲
2023 · 1.11
Debt to equity
0.50▼
2023 · 0.64
ROE
30.4%▼
2023 · 33.2%
ROA
20.3%▲
2023 · 20.2%
Interest coverage
153.73▲
2023 · 52.97
Debt ≤ 1 year
€2.1m▲
2023 · €1.2m
Debt > 1 year
€479,832▼
2023 · €1.2m
Income taxes
€532,634▲
2023 · €411,482
Staff costs
€463,655▲
2023 · €352,377
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 34,672 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €15.0m | - |
| Turnover70 | - | - | - | - | €15.0m | - |
| Other operating income74 | - | - | - | - | €41,398 | - |
| Operating charges60/66A | - | - | - | - | €12.9m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €9.3m | - |
| Purchases600/8 | - | - | - | - | €9.6m | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | -€382,034 | - |
| Services and other goods61 | - | - | - | - | €2.4m | - |
| Remuneration, social security and pensions62 | - | €313,241 | €346,000 | €352,377 | €463,655 | ▲ 31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €296,346 | €397,873 | €590,900 | €633,883 | €716,019 | ▲ 13.0% |
| Other operating charges640/8 | - | €1.1m | €7,480 | €11,055 | €35,889 | ▲ 225% |
| Gross operating margin9900 | €2.1m | €3.4m | €1.5m | €2.6m | - | - |
| Operating profit (loss)9901 | €794,873 | €1.6m | €593,790 | €1.6m | €2.1m | ▲ 29.9% |
| Financial income75/76B | - | €2,700 | €11,193 | €10,673 | €11,774 | ▲ 10.3% |
| Recurring financial income75 | €210 | €2,700 | €11,193 | €10,673 | €11,774 | ▲ 10.3% |
| Income from financial fixed assets750 | - | - | - | - | €0 | - |
| Income from current assets751 | - | - | - | - | €0 | - |
| Other financial income752/9 | - | - | - | - | €11,774 | - |
| Financial charges65/66B | - | €34,918 | €38,839 | €43,082 | €31,987 | ▼ 25.8% |
| Recurring financial charges65 | €34,707 | €34,918 | €38,839 | €43,082 | €31,987 | ▼ 25.8% |
| Debt charges650 | - | - | - | - | €18,583 | - |
| Other financial charges652/9 | - | - | - | - | €13,404 | - |
| Profit (loss) for the period before taxes9903 | €760,375 | €1.5m | €566,144 | €1.6m | €2.1m | ▲ 31.2% |
| Income taxes67/77 | €218,713 | €283,967 | €100,426 | €411,482 | €532,634 | ▲ 29.4% |
| Taxes670/3 | - | - | - | - | €532,634 | - |
| Profit (loss) for the period9904 | €541,662 | €1.3m | €465,718 | €1.2m | €1.6m | ▲ 31.8% |
| Profit (loss) for the period to be appropriated9905 | €541,662 | €1.3m | €465,718 | €1.2m | €1.6m | ▲ 31.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.8m | €4.9m | €5.5m | €6.0m | €7.8m | ▲ 31.3% |
| Fixed assets21/28 | €606,296 | €2.0m | €2.4m | €2.1m | €1.9m | ▼ 11.1% |
| Intangible fixed assets21 | €24,628 | €7 | - | - | - | - |
| Tangible fixed assets22/27 | €566,668 | €2.0m | €2.4m | €2.1m | €1.9m | ▼ 11.1% |
| Plant, machinery and equipment23 | - | €2.0m | €2.4m | €2.1m | €1.8m | ▼ 10.5% |
| Furniture and vehicles24 | - | €31,836 | €33,525 | €59,706 | €40,767 | ▼ 31.7% |
| Financial fixed assets28 | €15,000 | €15,000 | €15,000 | €15,000 | €15,000 | = |
| Affiliated companies280/1 | - | - | - | - | €15,000 | - |
| Participating interests280 | - | - | - | - | €15,000 | - |
| Current assets29/58 | €2.2m | €2.9m | €3.1m | €3.8m | €5.9m | ▲ 54.9% |
| Stocks and contracts in progress3 | €673,456 | €1.2m | €1.9m | €2.5m | €2.9m | ▲ 15.0% |
| Stocks30/36 | - | €1.2m | €1.9m | €2.5m | €2.9m | ▲ 15.0% |
| Goods purchased for resale34 | - | - | - | - | €2.9m | - |
| Amounts receivable within one year40/41 | €968,900 | €1.2m | €685,050 | €787,430 | €2.7m | ▲ 246% |
| Trade receivables40 | - | €1.1m | €621,829 | €727,812 | €2.4m | ▲ 227% |
| Other amounts receivable41 | - | €184,927 | €63,221 | €59,618 | €346,482 | ▲ 481% |
| Cash at bank and in hand54/58 | €513,389 | €365,168 | €459,446 | €488,014 | €274,874 | ▼ 43.7% |
| Deferred charges and accrued income490/1 | - | €9,638 | €25,121 | €4,907 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.8m | €4.9m | €5.5m | €6.0m | €7.8m | ▲ 31.3% |
| Equity10/15 | €697,591 | €2.0m | €2.4m | €3.6m | €5.2m | ▲ 43.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | €18,600 | €18,600 | - | - | - |
| Issued capital100 | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €678,991 | €1.9m | €2.4m | €3.6m | €5.2m | ▲ 43.9% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €1.9m | €2.4m | €3.6m | €5.2m | ▲ 43.9% |
| Amounts payable17/49 | €2.1m | €2.9m | €3.1m | €2.3m | €2.6m | ▲ 12.0% |
| Amounts payable after more than one year17 | €174,138 | €1.7m | €1.6m | €1.2m | €479,832 | ▼ 58.8% |
| Financial debts170/4 | - | €263,046 | €343,561 | €203,575 | €102,393 | ▼ 49.7% |
| Credit institutions173 | - | - | - | - | €102,393 | - |
| Other amounts payable178/9 | - | €1.4m | €1.2m | €962,195 | €377,439 | ▼ 60.8% |
| Amounts payable within one year42/48 | €1.9m | €1.3m | €1.5m | €1.2m | €2.1m | ▲ 83.5% |
| Current portion of amounts payable after more than one year42 | - | €82,433 | €156,849 | €139,986 | €101,182 | ▼ 27.7% |
| Trade debts44 | €337,945 | €978,559 | €1.2m | €921,405 | €1.7m | ▲ 84.6% |
| Suppliers440/4 | - | €978,559 | €1.2m | €921,405 | €1.7m | ▲ 84.6% |
| Taxes, remuneration and social security45 | - | €195,306 | €189,266 | €94,166 | €317,937 | ▲ 238% |
| Taxes450/3 | - | €161,133 | €157,394 | €56,145 | €269,100 | ▲ 379% |
| Remuneration and social security454/9 | - | €34,172 | €31,872 | €38,021 | €48,837 | ▲ 28.4% |
| Other amounts payable47/48 | - | €5,836 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €1,015 | €1,419 | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €541,662 | €1.3m | €465,718 | €1.2m | €1.6m | ▲ 31.8% |
| + Depreciation and write-downs630 | €296,346 | €397,873 | €590,900 | €633,883 | €716,019 | ▲ 13.0% |
| Operating cash flow (approximation) | €838,008 | €1.7m | €1.1m | €1.8m | €2.3m | ▲ 25.3% |
| Investment in fixed assets (approximation) | - | -€1.8m | -€975,577 | -€336,902 | -€480,643 | ▼ 42.7% |
| Change in cash | - | -€148,221 | €94,279 | €28,567 | -€213,140 | ▼ 846% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
20-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €1.6m ▲31.8%
Operating result €2.1m, net result €1.6m, both a record.
31-12
Financial
Equity above €5mEq €5.2m ▲43.7%
7 profitable years in a row build equity to €5.2m.
12-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €2mEq €2.4m ▲23.7%
5 profitable years in a row build equity to €2.4m.
19-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €1mEq €2.0m ▲181%
4 profitable years in a row build equity to €2.0m.
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €500,000Eq €697,591 ▲347%
3 profitable years in a row build equity to €697,591.
15-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €150,000Eq €155,929 ▲97.5%
2 profitable years in a row build equity to €155,929.
Show earlier events
08-05
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-05
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Wevelgem · 1 establishment unit since 2016
Ground area
1.8 ha
Building footprint
7,689 m²
Volume, LiDAR
31,039 m³
2 parcels, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
CTS
since 20162.253.073.537
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33302A0396/00R000 | Flanders | 1.7 ha | 1 · 7,420 m² | 7.8 m · 2 fl. |
| 34041C0720/00T000 | Flanders | 822 m² | 1 · 268 m² | 7.8 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 2
-
100%
-
100%
According to the 2024 annual accounts of CTS and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 102 companies in sector 46350 we hold annual accounts for 66. 23 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-05-2016
Fiscal year end31-12
Activities, NACEBEL 2025
12000Manufacture of tobacco products
46350Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0653864429
Also
9925:BE0653864429
Registered
23-09-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.